Inaugurated in October 1897, from the outset it was a venue for popular shows. At a time when it was almost exclusively used for showing films, the Secretary of State for Culture decided to rent it out at the end of the 1970s.

In September 1980, the Carlos Alberto National Auditorium opened its doors to host a more diversified programme. With the approach of the European Capital of Culture event, the building was acquired by Sociedade Porto 2001. Maintaining its symbolic value and updating the tradition of its use were the challenges taken on in the project signed by architect Nuno Lacerda Lopes.

After a troubled process of progress and setbacks, the renovated Carlos Alberto Theatre was finally returned to the city in September 2003.